ARC Resources (TSE:ARX) Price Target Lowered to C$28.00 at Royal Bank Of Canada

ARC Resources (TSE:ARX) had its target price dropped by equities researchers at Royal Bank Of Canada from C$32.00 to C$28.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the oil and gas exploration company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 20.90% from the company’s current price.

Other analysts have also recently issued reports about the company. Raymond James Financial cut ARC Resources from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$31.00 to C$28.00 in a research note on Monday. Scotiabank lowered their price objective on ARC Resources from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 21st. Canadian Imperial Bank of Commerce reduced their target price on shares of ARC Resources from C$34.00 to C$31.50 in a report on Wednesday, October 15th. Cibc Captl Mkts downgraded shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group decreased their price objective on shares of ARC Resources from C$28.00 to C$27.00 in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, ARC Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$29.21.

ARC Resources Trading Up 1.4%

Shares of ARX stock traded up C$0.33 during trading hours on Monday, hitting C$23.16. The company had a trading volume of 4,305,571 shares, compared to its average volume of 4,543,331. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.14 and a quick ratio of 0.42. The stock has a market capitalization of C$13.33 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.29 and a beta of 0.00. The company’s fifty day moving average is C$25.18 and its 200 day moving average is C$25.60. ARC Resources has a fifty-two week low of C$21.14 and a fifty-two week high of C$31.56.

ARC Resources (TSE:ARX) last announced its earnings results on Thursday, February 5th. The oil and gas exploration company reported C$0.46 earnings per share (EPS) for the quarter. ARC Resources had a return on equity of 14.60% and a net margin of 20.95%. Research analysts expect that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

About ARC Resources

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.